| When you first have the vision of your new start up | | | | dangerous chemicals, for example, there is a possibility |
| business, you probably have conjured up all sorts of | | | | that they could be injured on the job. |
| images of making it big, seeing your business | | | | Another very important type of insurance for start up |
| successful and the money simply pouring in. You may | | | | companies is motor insurance. This means if you have |
| also envision yourself wining and dining with some | | | | one or more vehicles that are in use to haul goods and |
| famous entrepreneurs and them asking your for | | | | something happened to those goods and it was a |
| advice. | | | | complete loss, you would be insured and therefore |
| Vision is so important when you first have the idea of | | | | receive reimbursement. This is often overlooked by |
| your business and what it will entail and who it will | | | | many new businesses because they tend to think of |
| impact. Putting the vision into action is even more fun, | | | | vehicles hauling goods as over the road semi trucks, |
| because you begin to see your dreams realised, but | | | | but it applies even if you use your pick-up truck solely |
| as you may have already found out, starting a | | | | for your business. If you your business is glass picture |
| business is hard work and many times you a business | | | | frames and you were hauling hundreds of frames in |
| of one, meaning you. | | | | your pick-up and someone were to rear-end you, your |
| As you branch out and get things more set, do not | | | | glass frames may shatter in a million pieces. This is |
| overlook the importance of insurance for your new | | | | where the motor insurance cover becomes so |
| business. Basic cover is required by law, but it is often | | | | important. |
| not enough to actually protect you against major | | | | If your new business is in the law or accountancy, you |
| mishaps or catastrophes. Obviously, your cover needs | | | | will need what is called indemnity business insurance. |
| are not the same as a very large business with | | | | This protects employees and owners against suits that |
| thousands of employees, but remember large | | | | may be filed such as malpractice claims. Finally, when |
| businesses today were once start up ideas. | | | | you begin your new business, you are required to |
| One of the first types of cover you will need is liability | | | | have specific business insurance, but other types of |
| compulsory, this protects you in the event you have an | | | | cover are voluntary or those that you can elect to add |
| employee that is injured or hurt on the job. This will | | | | on. Many times it is not necessary until your business is |
| cover any damages and legal fees you may incur if | | | | more established, but remember, the more cover you |
| the employee decides to file suit. This is probably one | | | | have that is applicable to your business and the more |
| of the best cover to have as a new business, even if | | | | protected you are. |
| you just have three employees, if they work with | | | | |